Martin Marietta Materials Earnings: Here’s Why the Stock is Down Now
Martin Marietta Materials Inc. (NYSE:MLM) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.19%.
Martin Marietta Materials Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.2% to $0.89 in the quarter versus EPS of $0.91 in the year-earlier quarter.
Revenue: Rose 3.11% to $562.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Martin Marietta Materials Inc. reported adjusted EPS income of $0.89 per share. By that measure, the company missed the mean analyst estimate of $1.13. It missed the average revenue estimate of $596.8 million.
Quoting Management: Ward Nye, President and CEO of Martin Marietta Materials, stated: “We are pleased to report higher second-quarter net sales and gross margin compared with the prior-year quarter, which is particularly rewarding in light of excessive rainfall in most of our key markets.”
Key Stats (on next page)…
Revenue increased 46.16% from $385 million in the previous quarter. EPS increased to $0.89 in the quarter versus EPS of $-0.63 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $1.61 and has not changed. For the current year, the average estimate has moved down from a profit of $3.11 to a profit of $2.89 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)